Top 5 Characteristics of Successful Entrepreneurs

No two leaves are alike, so are entrepreneurs, but great entrepreneurs still have some common characteristics that lead to success. Since last year, we have reviewed a variety of entrepreneurial stories, and summarized five key characteristics for the sucessful entrepreneurs in the field of innovation and business sectors. We hope this insight can help foreign startups better understand how to start business in China.

They Like Sharing Their Passion With People Around Them

Entrepreneurs understand that they can not run business alone. Gautam Gupta, CEO of NatureBox, has said: "In a long period of time when you start business, you are going to work very hard and experience tough days. So for this time you have to share similar values with your colleagues, which will finally convert into a positive customer experience, and that’s the secret of successuflly starting your business.”

They Know Themselves Well

Only when you know enough about your strengths and weaknesses, you're ready to build a team that will complement your deficiencies and help you reach your goals, whether you act as "assistant", "boss" or "booster." Martin Zwilling, a startup mentor, said: "To maximize your leadership potential, you have to be loyal and understand yourself, instead of trying to become what people think you should be. If you can better know about yourself and keep growing, you'll find that all the challenges are actually the seeds of opportunity."

They Are The Real Experts In Their Field

A successful entrepreneur has never stopped learning and spends most of the time on learning professional expertise. Stephen Key, founder of InventRight, said: "When you spend years in the same industry, you’ll learn about the history behind it and what has happened in the past. These in depth information will can help you determine where you are heading and how you should move forward. In addition, your professional network can support your future growth, especially in times of crisis, your network resources will be crucial."

They Take Action

Many people will say "No" to your next move, but you should not be one of them. Lewis Howes, founder of LinkedIn fluence, a social media training program, said: "Actions can heal fears, hesitation and suspicion. Remember, in our lives, only time and energy have limit. So your mind must always focused on growth and progress." Besides, how do you motivate others if you are in-confident?

They Are Not Afraid of Failure

Fear of failure can make people collapse. But if you realize it is just a mistake that everyone may make, it may push you to come up with a good idea. "Too many people regard failure as a signal they should give up. Those people can not go too far. The difference between successful people and others is that they can stand up and start afresh with a better plan." Said Brad Sugars, founder and chairman of Action COACH.

If you have these five characteristics, and are interested in starting business in China, you can contact WTOIP for consultation and guidance. They provide comprehensive entrepreneurial and legal services to our clients, helping foreign tech startups launch their business in China with no legal hurdles. Services include preliminary project feasibility study, potential business partner pitching, one-stop intellectual property solution plan, local incorporation registration and application for government funding.